ECB Tender Weighted Average Rate Seen 4.38%

Forex News:The weighted average rate in Tuesday's European Central Bank tender is expected to be in the 4.38%-4.40% area, a trader says. The auction is the first after the ECB raised its minimum bid rate by 25 basis points to 4.25% Thursday. Sees the ECB allotment above benchmark due to the illiquid nature of the interbank lending market. Three-month rates are quoted at between 4.90%-5.00%